Obesity treatment start-up Gelesis Inc. has raised $3.6 million from 16 investors, whose names it did not disclose in a filing with the US Securities and Exchange Commission (SEC). It has raised $20 million to date.
Gelesis's investors include PureTech Ventures, Queensland Biocapital, and OrbiMed Advisors LLC, which won the tender to set up the government biomed funds.
The company has developed Attiva, a superabsorbent hydrogel designed to swell in the stomach, reducing appetite. The gel also makes food more viscous, so its stays longer in the stomach. The company began preclinical animal trials of the gel, but it has not yet begun human clinical trials.
In 2010, FierceBiotech included Gelesis in its "Fierce 15" list, as one of the top emerging biotech companies of the year.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2011
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